What are the Circumstances that a business is about to go down? how do you assess on saving it?
Mark Lemuel M
9 replies
This question seeks to understand the critical signs that indicate a business is on the brink of failure and explores the strategies used to assess and potentially save it. It invites entrepreneurs to share their experiences and insights on identifying red flags.
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Zekiye Nur Kesici@zekiye_nur_kesici
Identifying issues like declining sales, high employee turnover, and cash flow problems is crucial. Implementing cost-cutting measures, diversifying revenue streams, and seeking expert advice can help turn around a struggling business.
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@zekiye_nur_kesici Thank you for the insightful advice. Recognizing these critical issues is indeed the first step. We'll focus on implementing cost-cutting measures, exploring new revenue streams, and seeking expert guidance to steer the business back on track. followed you, reviewed each and every product of yours and upvoted it!
Lack of Product-Market-Fit has to be on that list.
@kilopolki Right? It will make things 10x easier.
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If your business is wobbling more than a newborn fawn on ice skates, it might be time to tune into those dwindling sales figures. Remember, ignoring them won't make them magically rise like a phoenix from the ashes!